Navigating TDS Refunds as a Contractor: How Can I Get My Money Back?

I'm working as a contractor for an IT company. The professional fee they give me is $12,000 per month, from which TDS of $1,200 is deducted. Can I claim or get it refunded? If so, what's the way to do this? Please help me out as I'm new to this. The company has given me Form 16A. At what time should I file my tax returns? Can someone please help me out?

Appreciate your help.

Please, can someone answer this query as I have a similar doubt? Her income does not fall under taxable income, so how is TDS deducted? What should she do now to claim the amount?

Filing Your Income Tax Return

You need to file your income tax return at the end of the year (generally required before the end of June). When you file it, if there is a loss or if the profits are lower than the taxable income limit, you will file for a refund. The refund will come automatically after the assessment takes place. Talk to your chartered accountant; they will know what needs to be done.

You can also file your income tax return on your own now; there are online tools on the income tax site that you can use. However, if you do not know about taxes, it's better to involve a CA. It does not cost much.

Regards

Hi Sachi,

Form 16A is issued to a consultant, which means you were not on the company's payroll. Keep this Form 16A certificate until March '14 and then file an income tax return. Also, service tax is payable for invoicing in case you received above Rs. 9 lakhs during the financial year.

Thanks,
CA Vikas